Trading Support And Resistance - Sunday, March 14

10 and one 10 us dollar bill

This week we will begin with our monthly and weekly forecasts of the currency pairs worth watching. The first part of our forecast is based upon our research of the past 18 years of Forex prices, which show that the following methodologies have all produced profitable results:

Let us look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies:

Currency Price Changes and Interest Rates

Monthly Forecast March 2021

For the month of March, we forecast that the USD/JPY currency pair will rise in value, while the EUR/USD currency pair will fall.

Monthly Forecast March 2021

Weekly Forecast March 14

This week, we make no weekly forecast, as there were no strong counter-trend movements in the Forex market whatsoever last week.

The Forex market showed a relatively high level of volatility last week, with only 26% of the important currency pairs and crosses moving by more than 1% in value. Volatility is likely to rise over the coming week.

Last week was dominated by relative strength in the Canadian dollar, and relative weakness in the Japanese yen.

Previous Monthly Forecasts

You can view the results of our previous monthly forecasts here.

Key Support/Resistance Levels for Popular Pairs

We teach that trades should be entered and exited at or very close to key support and resistance levels. There are certain key support and resistance levels that can be watched on the more popular currency pairs this week.

Key Support and Resistance Levels

Let us see how trading reversals from two of last week’s key levels would have worked out:

1 2
View single page >> |

Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.